On the recordJune 12, 1997
as I speak, the Committee on Ways and Means continues to debate the details of what would be the first major tax cut enacted in 16 years. This proposal is consistent with the balanced budget agreement. The proposal contains permanent tax relief covering people throughout their lives from the childhood years to the education years, from the saving years to the retirement years. It offers a $500 per child tax credit covering 41 million children. Education incentives are offered by creating investment accounts to allow parents to save tax-free for their children's higher education. A 10-percent capital gains tax cut rate would cover 5 million Americans, including 2 million senior citizens. Mr. Speaker, this package represents a clear and more simple vision: Allow the American people to do more by letting them keep more of their earnings.
Source
govinfo.gov
